AssumingI were to buy a straightforward housein Castle Vale mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Castle Vale?
Any savings you would achieve would be limited to the Castle Vale conveyancing searches. The property lawyer is required to do the vast majority of work - money laundering, correspond with the sellers lawyer, stamp duty return, register the property etc. You might save a bit for them not needing to register a charge but it will not be a lot.
We are purchasing a 4 bedroom semi-detached house in Castle Vale. Our aim is to carry out an extension to the side at the house.Will the conveyancing process include investigations to determine if these alterations are permitted?
Your property lawyer should check the registered title as conveyancing in Castle Vale will on occasion reveal restrictions in the title documents which restrict certain alterations or require the permission of another owner. Many additions call for local authority planning consent and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
When it comes to lenders such as Co-operative, do Castle Vale property lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
I am selling my house. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being pedantic. The Castle Vale solicitor who is on the Leeds Building Society conveyancing panel is saying indemnity insurance will be fine but Leeds Building Society are requiring a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Castle Vale differ for new build properties?
Most buyers of new build or newly converted property in Castle Vale contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Castle Vale typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Castle Vale or who has acted in the same development.
I have been on the look out for a ground for flat up to £245,000 and found one close by in Castle Vale I like with open areas and station nearby, however it only has 61 years on the lease. I can't really find anything else in Castle Vale for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I've recently bought a leasehold property in Castle Vale. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Castle Vale Leasehold Conveyancing - Sample of Questions you should ask before Purchasing
Plenty Castle Vale leasehold properties will incur a service charge for maintenance of the block invoiced on behalf of the freeholder. If you buy the flat you will have to pay this charge, usually periodically during the year. This could be anything from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent to be met annual, ordinarily this is not a significant sum, say around £50-£100 but you should to check as on occasion it could be many hundreds of pounds. Best to be warned whether window replacement or some other significant cost is pending that will be shared by the leaseholders and may well dramatically impact the level of the maintenance charges or result in a specific payment. Does the lease include onerous restrictions?